[Brutal CarNage]

Dont do that. That will take forever.
[img]http://home.attbi.com/~ybhyper/m.gif[/img]

1. Take the Eye dropper tool and make sure you click on the grey area to get a matching color.

2. Use the pencil and the 1 setting for brush size. Fill in all those gaps that are in the words. This is important! If you dont do this, you're gonna select some stuff you dont want and mess your picture up.

3. Select the Magic Wand (not sure if its in older PS vers) and hold SHIFT down. As you are holding shift, select all the areas that you DO NOT want.

4. After that is done, select INVERSE. Then hit CTRL + C. This copys the object.

5. Goto FILE and click NEW. Make sure you click on TRANSPARENT under contents. The size will be automatic to fit your copy.

6. Hit CTRL+V to paste.

7. Then click Save As and under Format choose Compuserve GIF. Give it a name and you are done.

Thats it, I think.
[img]http://home.attbi.com/~ybhyper/m1.jpg[/img]